Another very small range day with price closing within a consolidation zone leaves the Elliott wave analysis the same.
The middle of a third wave may be unfolding as expected. Elliott wave targets remain the same.
The upwards trend was expected to resume with strength this week, which is exactly what is happening so far. The Elliott wave count targets remain the same.
The week has ended strongly. A low was called tentatively on the 3rd of June, and the first confidence point at 2,799 was passed on the next day. Thereafter, price has continued higher this week as expected.
For the very short term, a small bounce or sideways consolidation was expected to continue. A slightly higher high and higher low fits this expectation perfectly.
A small range day closes with price range bound. This meets the overall expectation for the Elliott wave count for the short term.
Price moved lower but remains above the last short-term low and the short-term invalidation point on the hourly chart.
Price remains range bound. Strength within this last session along with the AD line as an indicator of breadth, and VIX as an indicator of volatility, are used to determine the most likely Elliott wave count.